PATEL KENWOOD PRIVATE LIMITED,ANKLESHWAR vs. INCOME TAX OFFICER, VADODARA

In the result, the appeal filed by the assessee is hereby allowed

Bench: Shri Ramit Kochar (Accountant Member), Shri T.R. Senthil Kumar (Judicial Member)

section 143(3) of the Income Tax Act, 1961 (hereinafter referred to as ‘the Act’) relating to the Assessment Years 2017-18 and 2018-19. Since common issue is involved in both the appeals, the same are disposed of by this common order. I.T.A Nos. 60 & 61/Ahd/2024 A.Y. 2017-18 & 2018-19 Page No 2 Patel Kenwood

PATEL KENWOOD PRIVATE LIMITED,ANKLESHWAR vs. INCOME TAX OFFICER, VADODARA

In the result, the appeal filed by the assessee is hereby allowed

Bench: Shri Ramit Kochar (Accountant Member), Shri T.R. Senthil Kumar (Judicial Member)

section 143(3) of the Income Tax Act, 1961 (hereinafter referred to as ‘the Act’) relating to the Assessment Years 2017-18 and 2018-19. Since common issue is involved in both the appeals, the same are disposed of by this common order. I.T.A Nos. 60 & 61/Ahd/2024 A.Y. 2017-18 & 2018-19 Page No 2 Patel Kenwood

M/S. RATNAVEER STAINLESS PRODUCTS PVT. LTD.,,VADODARA vs. THE ASSTT. COMMISSIONER OF INCOME TAX, CIRCLE-4,, BARODA

In the result, appeal of the assessee is partly allowed for statistical purposes

Bench: Ms. Suchitra Kamble & Shri Waseem Ahmedassessment Year: 2010-11

391 775. [PAN – AABCR 9648 F] (Appellant) (Respondent) Assessee by : Shri Tushar Hemani, Sr. Advocate & Shri Parimalsinh B. Parmar, AR Revenue by : Shri B.P. Makwana, Sr. DR Date of hearing : 01.12.2022 Date of pronouncement : 16.12.2022 O R D E R PER SUCHITRA KAMBLE, JUDICIAL MEMBER : This appeal is filed by the Assessee against order dated 24.03.2014, passed

DCIT, CENTRAL CIRCLE1(2), AHMEDABAD, AHMEDABAD vs. PARUL AROGYA SEVA MANDAL TRUST, AHMEDABAD

Appeals are allowed

Bench: Shri Siddhartha Nautiyal & Shri Makarand V. Mahadeokar, Accountnat Member

391 760 PAN:AADAP 4952 C (Assessee) (Revenue) 4. 1018/Ahd/2023 2016-17 The DCIT Parul Arogya Seva (Revenue) Mandal Trust (Assessee) 5. 1019/Ahd/2023 2017-18 The DCIT Parul Arogya Seva (Revenue) Mandal Trust (Assessee) Assessee(s) by : Shri Samir Parikh, AR Revenue by : Shri Sudhendu Das, CIT-DR ITA No 991,992,993,1018 & 1019/Ahd/2023. Parul Arogya Seva Mandal Trust

PARUL AROGYA SEVA MANDAL TRUST,AHMEDABAD vs. THE DY.CIT, CENTRAL CIRCLE-1(2), AHMEDABAD

Appeals are allowed

Bench: Shri Siddhartha Nautiyal & Shri Makarand V. Mahadeokar, Accountnat Member

391 760 PAN:AADAP 4952 C (Assessee) (Revenue) 4. 1018/Ahd/2023 2016-17 The DCIT Parul Arogya Seva (Revenue) Mandal Trust (Assessee) 5. 1019/Ahd/2023 2017-18 The DCIT Parul Arogya Seva (Revenue) Mandal Trust (Assessee) Assessee(s) by : Shri Samir Parikh, AR Revenue by : Shri Sudhendu Das, CIT-DR ITA No 991,992,993,1018 & 1019/Ahd/2023. Parul Arogya Seva Mandal Trust

DCIT, CENTRAL CIRCLE-1(2), AHMEDABAD, AAYAKAR BHAWAN, ASHRAM ROAD, AHMEDABAD vs. PARUL AROGYA SEVA MANDAL TRUST, , AHMEDABAD

Appeals are allowed

Bench: Shri Siddhartha Nautiyal & Shri Makarand V. Mahadeokar, Accountnat Member

391 760 PAN:AADAP 4952 C (Assessee) (Revenue) 4. 1018/Ahd/2023 2016-17 The DCIT Parul Arogya Seva (Revenue) Mandal Trust (Assessee) 5. 1019/Ahd/2023 2017-18 The DCIT Parul Arogya Seva (Revenue) Mandal Trust (Assessee) Assessee(s) by : Shri Samir Parikh, AR Revenue by : Shri Sudhendu Das, CIT-DR ITA No 991,992,993,1018 & 1019/Ahd/2023. Parul Arogya Seva Mandal Trust

PARUL UNIVERSITY,VADODARA vs. THE DY.CIT,EXEMPTION CIRCLE-1, AHMEDABAD

Appeals are allowed

Bench: Shri Siddhartha Nautiyal & Shri Makarand V. Mahadeokar, Accountnat Member

391 760 PAN:AADAP 4952 C (Assessee) (Revenue) 4. 1018/Ahd/2023 2016-17 The DCIT Parul Arogya Seva (Revenue) Mandal Trust (Assessee) 5. 1019/Ahd/2023 2017-18 The DCIT Parul Arogya Seva (Revenue) Mandal Trust (Assessee) Assessee(s) by : Shri Samir Parikh, AR Revenue by : Shri Sudhendu Das, CIT-DR ITA No 991,992,993,1018 & 1019/Ahd/2023. Parul Arogya Seva Mandal Trust

PARUL AROGYA SEVA MANDAL TRUST,AHMEDABAD vs. THE DY.CIT, CENTRAL CIRCLE-1(2), AHMEDABAD

Appeals are allowed

Bench: Shri Siddhartha Nautiyal & Shri Makarand V. Mahadeokar, Accountnat Member

391 760 PAN:AADAP 4952 C (Assessee) (Revenue) 4. 1018/Ahd/2023 2016-17 The DCIT Parul Arogya Seva (Revenue) Mandal Trust (Assessee) 5. 1019/Ahd/2023 2017-18 The DCIT Parul Arogya Seva (Revenue) Mandal Trust (Assessee) Assessee(s) by : Shri Samir Parikh, AR Revenue by : Shri Sudhendu Das, CIT-DR ITA No 991,992,993,1018 & 1019/Ahd/2023. Parul Arogya Seva Mandal Trust

NIRMA CHEMICAL WORKS PVT.LTD.,,AHMEDABAD vs. THE ACIT.,CIRCLE-5,, AHMEDABAD

In the result appeal of the revenue is dismissed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

391,78,23,535 The Discounted value of these DDBs as on 31.03.06 is computed as under: Maturity valuefface value) [1+r/I00)n Rs.391.78.23.535 [H-0.05]29'12 = Rs.313,07,52,386/- ITA Nos.1054/Ahd/2012 and 6 others A.Y. 2006-07 16 It is seen that the accrued interest on 400 DDBs as on 31.03.2005 has been computed

THE ACIT, CIRCLE-5,, AHMEDABAD vs. NIRMA CHEMICALS WORKS PVT.LTD., AHMEDABAD

In the result appeal of the revenue is dismissed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

391,78,23,535 The Discounted value of these DDBs as on 31.03.06 is computed as under: Maturity valuefface value) [1+r/I00)n Rs.391.78.23.535 [H-0.05]29'12 = Rs.313,07,52,386/- ITA Nos.1054/Ahd/2012 and 6 others A.Y. 2006-07 16 It is seen that the accrued interest on 400 DDBs as on 31.03.2005 has been computed

NIRMA CHEMICALS WORKS PVT.LTD.,AHMEDABAD vs. THE DY.CIT.,CIRCLE-5,, AHMEDABAD

In the result appeal of the revenue is dismissed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

391,78,23,535 The Discounted value of these DDBs as on 31.03.06 is computed as under: Maturity valuefface value) [1+r/I00)n Rs.391.78.23.535 [H-0.05]29'12 = Rs.313,07,52,386/- ITA Nos.1054/Ahd/2012 and 6 others A.Y. 2006-07 16 It is seen that the accrued interest on 400 DDBs as on 31.03.2005 has been computed

THE ACIT, CIRCLE-5,, AHMEDABAD vs. NIRMA CHEMICALS WORKS PVT.LTD., AHMEDABAD

In the result appeal of the revenue is dismissed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

391,78,23,535 The Discounted value of these DDBs as on 31.03.06 is computed as under: Maturity valuefface value) [1+r/I00)n Rs.391.78.23.535 [H-0.05]29'12 = Rs.313,07,52,386/- ITA Nos.1054/Ahd/2012 and 6 others A.Y. 2006-07 16 It is seen that the accrued interest on 400 DDBs as on 31.03.2005 has been computed

THE ACIT, CIRCLE-5,, AHMEDABAD vs. NIRMA CHEMICALS WORKS PVT.LTD., AHMEDABAD

In the result appeal of the revenue is dismissed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

391,78,23,535 The Discounted value of these DDBs as on 31.03.06 is computed as under: Maturity valuefface value) [1+r/I00)n Rs.391.78.23.535 [H-0.05]29'12 = Rs.313,07,52,386/- ITA Nos.1054/Ahd/2012 and 6 others A.Y. 2006-07 16 It is seen that the accrued interest on 400 DDBs as on 31.03.2005 has been computed

NIRMA CHEMICALS WORKS PVT.LTD.,AHMEDABAD vs. THE DY.CIT.,CIRCLE-5,, AHMEDABAD

In the result appeal of the revenue is dismissed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

391,78,23,535 The Discounted value of these DDBs as on 31.03.06 is computed as under: Maturity valuefface value) [1+r/I00)n Rs.391.78.23.535 [H-0.05]29'12 = Rs.313,07,52,386/- ITA Nos.1054/Ahd/2012 and 6 others A.Y. 2006-07 16 It is seen that the accrued interest on 400 DDBs as on 31.03.2005 has been computed

SMT. MEERA ALPESH KANUGO,VADODARA vs. ITO, WARD-3(1)(3), VADODARA

In the result, appeal filed by the assessee is allowed

purchase of shares in physical form and thereafter converting the same into electronic mode is not in conformity with the SEBI guidelines. I.T.A No. 2130/Ahd/2018 A.Y. 2014-15 Page No. 4 Smt. Meera Alpesh Kanugo vs. ITO (iii) The assessee is not a regular investor in shares and it is surprising that the assessee has managed to earn a phenomenal

SHRI ARVINDKUMAR K, PATEL,AHMEDABAD vs. DCIT, CIRCLE-3(2),, AHMEDABAD

In the result the appeal of the assessee is partly allowed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmedआयकर अपील सं./Ita No. 749/Ahd/2018 "नधा"रण वष"/Asstt. Year: 2014-2015 Shri Arvindkumar K. Patel, D.C.I.T, 11, Nobles Residency, Vs. Cirle-3(2) Nr. Vrundavan Part-3, Ahmedabad. Thaltek,, Ahmedabad-380 059. Pan: Aehpp4874N

bogus transaction, the assessee cannot be denied the benefit of the deduction as provided under section 36(1)(vii) of the Act. vi. There was the recovery of the bad debts written off by the assessee in the year under consideration in the subsequent assessment year as evident from the profit and loss account for the year ended 31st March

SMT. RESHMIBEN P. KANUGO,VADODARA vs. ITO, WARD-3(1)(3), VADODARA

In the result appeal filed the assessee is allowed

Bench: Shri Waseem Ahmed & Shri Madhumita Roysl. Ita No(S) Asset. Appeal(S) By No(S) Year(S) Appellant Vs. Respondent Appellant Respondent 1. 2131/Ahd/2018 2014-15 Smt. Reshmiben P. Income Tax Kanugo, Officer, 26, Jawahar Society, Nr. Ward 3(1)(3), Bakrawadi, R.V. Desai Vadodara. Road, Vadodara, Gujarat-390001. Pan: Azupk6721B 2. 2132/Ahd/2018 2014-15 Shri Alpesh P. Income Tax Kanugo(Huf), Officer, 26, Jawahar Society, Ward 3(1)(3), Nr. Bakrawadi, Ahmedabad. R.V. Desai Road, Vadodara-390001. Pan: Aajha5173P 3. 2133/Ahd/2018 2014-15 Shri Parasmal B. Kanugo Income Tax Officer, (Huf), Ward-3(1)(3), 26, Jawahar Society, Nr. Ahmedabad. Bakrawadi, R.V. Desai Road, Vadodara, Gujarat-390001. Pan: Aakhp0126Q

purchase of shares in physical form and thereafter converting the same into electronic mode is not in conformity with the SEBI guidelines. ITA nos.2131-2133/AHD/2018 Asstt. Year 2014-15 4 (iii) The assessee is not a regular investor in shares and it is surprising that the assessee has managed to earn a phenomenal return of 78 to 180 times within

THE ACIT, CIRCLE-3,, AHMEDABAD vs. KIFS SECURITIES LIMITED,, AHMEDABAD

In the result Ground No.9 of the revenue is allowed for

Bench: Hon'Ble Justice P.P.Bhatt & Hon'Ble Manish Borad

391/-. Out of the said amount, A.O. considered interest of Rs.56,12,695/- for working out the disallowance under Rule-8D(2)(ii). Out of the said amount, Rs.29,70,835/- was paid to banks against O.D. and Rs.26,41,860/- was paid on unsecured loans. As against this appellant earned interest income of Rs.14,45,40,211/- from banks

KIFS SECURITIES PVT. LTD.,AHMEDABAD vs. THE ACIT, CIRCLE-1(3), AHMEDABAD

In the result Ground No.9 of the revenue is allowed for

Bench: Hon'Ble Justice P.P.Bhatt & Hon'Ble Manish Borad

391/-. Out of the said amount, A.O. considered interest of Rs.56,12,695/- for working out the disallowance under Rule-8D(2)(ii). Out of the said amount, Rs.29,70,835/- was paid to banks against O.D. and Rs.26,41,860/- was paid on unsecured loans. As against this appellant earned interest income of Rs.14,45,40,211/- from banks